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Exclusive, Taxation February 18, 2019

Income Tax Ordinance 2001: Commissioners power to amend assessment of annual income return

KARACHI: A commissioner of Inland Revenue has been empowered to alter annual income tax return of a person on detection of tax evasion or avoidance.


National February 18, 2019

One-on-one meeting between Imran Khan, Saudi Prince

ISLAMABAD: Prime Minister Imran Khan had a one-on-one meeting with Saudi Prince Mohammad bin Salman at the Prime Minister House on Sunday.


National February 17, 2019

Saudi Arabia signs agreements for $20bn investment in Pakistan

ISLAMABAD: Saudi Prince Mohammed bin Salman on Sunday said that his country signed investment agreements worth $20 billion in Pakistan.


Exclusive, Taxation February 17, 2019

Income Tax Ordinance 2001: Commissioner IR empowered to make assessment for non-compliant taxpayers

KARACHI: Commissioners of Inland Revenue have been empowered to make ‘best judgement assessment’ for taxpayers, who fail to file annual returns, for making payment of due taxes.


Money & Banking February 17, 2019

Carrying above $10,000 without source to be dealt under anti-money laundering laws

KARACHI: The government has prescribed a limit of foreign currency amounting above $10,000 or equivalent within Pakistan. A person carry foreign currency above this limit without explaining source may be dealt under prevailing laws including…


Money & Banking, National February 17, 2019

Maximum Rs3,000 allowed to take out from Pakistan to India

KARACHI: A person is allowed to take out Pakistani currency a maximum amount of Rs3,000 for traveling to India.


Pakistan Customs, Taxation February 17, 2019

Green channel passengers asked to cooperate with customs on examination selection

KARACHI: Passengers on arrival from abroad at any airport passing through green channel have been asked to cooperate with customs authorities for examination in case randomly or parametric selection.


Money & Banking February 16, 2019

Rupee ends stable in open market

KARACHI: The Pak Rupee ended stable against dollar in the open market on Saturday owing to lower demand of foreign currency.


Trade & Industry February 16, 2019

Chinese delegation visits FPCCI to explore business opportunities

KARACHI: A delegation of Chinese businessmen has visited Federation of Pakistan Chambers of Commerce and Industry (FPCCI) to explore business opportunities between the two countries, a statement said on Saturday.


Exclusive, Taxation February 16, 2019

Income Tax Ordinance 2001: Notice can not be issued after 180 days for incomplete return

KARACHI: A commissioner of Inland Revenue is required to send notice to taxpayers for incomplete annual income returns within 180 days from end of financial year in which return was filed.


Finance February 16, 2019

Oil import bill soars to $8.68 billion in July –January

ISLAMABAD: The oil import bill has surged to $8.68 billion due to significant increase in import of liquefied natural gas (LNG), according to data released by Pakistan Bureau of Statistics (PBS).


Finance February 16, 2019

Pakistan imports mobile phones worth Rs55 billion in seven months

ISLAMABAD: Despite the government’s effort to curtail import bill the country imported mobile phones worth Rs55 billion during first seven months of current fiscal year.


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Taxation

February 19, 2019

Peshawar Customs Intelligence to auction confiscated vehicles on February 21


February 19, 2019

Income Tax Ordinance 2001: Commissioner’s power to make provisional assessment


February 18, 2019

Procedure for import of motor vehicles into Pakistan


Finance

February 18, 2019

Total foreign investment falls by 75 percent in seven months


February 16, 2019

Oil import bill soars to $8.68 billion in July –January


February 16, 2019

Pakistan imports mobile phones worth Rs55 billion in seven months


Money & Banking

February 19, 2019

Taking out of jewellery and precious stones prohibited


February 19, 2019

Rupee depreciates against dollar in early trade


February 18, 2019

Rupee unable to maintain recovery against dollar


Stock & Commodity

February 19, 2019

NCCPL to collect capital gain tax on February 27


February 18, 2019

Equity market shows lukewarm response to historic Saudi accords


February 16, 2019

Weekly Review: Market expected to remain upbeat on visit of Saudi Crown Prince


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